China: Number One Friend

Fareed Zakaria argues that the only way to save our economy--and thus have the ability to do the other big things Obama wants to do--is to maintain our good economic relationship with China:

Everyone agrees now that Washington needs to spend its way out of this recession, to ensure that it doesn't turn into a depression. Economists on both the left and right agree that a massive fiscal stimulus is needed and that for now, we shouldn't be worrying about deficits. But to run up these deficits -- which could total somewhere between $1 trillion and $1.5 trillion, or between 7 and 11 percent of gross domestic product -- America has to get someone to buy its debt. And the only country with the cash to do so is China.